Can you use an SBA loan to acquire a 501(c)(3) charitable nonprofit

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by a searcher from University of Dallas
in Houston, TX, USA

5yrs ago

Can you use an SBA loan to acquire a 501(c)(3) charitable nonprofit

Simple question

1 Like

74 Views

reply by a lender 5yrs ago
from University of Missouri in St. Louis, MO, USA

John is correct. It has to be a for profit business to qualify

reply by a searcher 5yrs ago
from Western Michigan University in Grand Rapids, MI, USA

A non-profit organization that has qualified for tax emption cannot be sold or purchased. NPOs do not have owners like you would have in a for-profit venture because the operations of an NPO is for the public good and cannot benefit a single individual or specific group of individuals. An NPO selling assets also has to be careful because such a transaction may be considered unrelated income and be table. Definitely consult with an expert.